KFC leases two inner Melbourne restaurants
A KFC franchisee has leased two inner city Melbourne restaurants – one formerly owned by footballer turned commentator Wayne Carey.
In Richmond, the fast food retailer will move to 294 Swan Street – a former Red Rooster spreading 176 square metres abutting a Peter Jackson outlet and a small customer car park, opposite a BP. An abutting laneway is used for a drive-through.
The initial lease term is 10 years.
Mr Carey owned the two retail investments also exposed to Harvey St for eight years until 2007.
“The drive-through nature of the property and in this location lends itself to more vehicular traffic while capturing more of the Swan Street buzz that comes from the surrounding Cremorne and Richmond office markets by day and the throngs of revellers and sports and event attendees by night,” Fitzroys’ Shane Mills, who brokered the deal with Chris James, said.
“A big part of the reason the landlord took up the KFC proposal was the confidence in their brand,” he added.
“Fast food tenants are currently a preferred choice for landlords – they’re continuing to perform well through the economic environment and offer other excellent security of tenure,” according to the executive.
KFC Collingwood
Meanwhile, a KFC will replace the ex-Fonda Mexican restaurant, at 236 Smith St, Collingwood, diagonally adjacent to the historic Woolworths Fitzroy which Daniel Grollo’s Casa is about to fill the airspace of with apartments (continues below).
Emmetts’ Charles Emmett brokered that $46 million site sale off market two years ago.
The KFC lease was also sealed off-market, by Mr James, for 10 years.
The building contains 280 sqm.
It also includes a separately accessed 140 sqm apartment.
At the north east corner of Stanley St, there are three car parks too.
“Locations on Smith Street don’t come up too often and the franchisee thought this was an excellent chance to set up in a world-renowned location,” Mr James said.
The deal comes a month since we reported McDonald’s set up in an ex-bank in Moonee Ponds’ Puckle St marking a return to the strip after three decades.
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